+
 Resolution professional gets 16 bids from 9 bidders to acquire HDIL
ECONOMY & POLICY

Resolution professional gets 16 bids from 9 bidders to acquire HDIL

On Friday. Crisis-hit realty company Housing Development and Infrastructure Limited (HDIL), which is facing insolvency proceedings, told the media that its resolution professional obtained 16 bids from nine applicants to acquire the firm.

In a regulatory filing, HDIL notified that the Resolution Professional of the company has obtained sixteen resolution plans from nine Prospective Resolution Applicants (PRAs). But, one of the applicants has presented the proposal without the requisite earnest money deposit as needed.

The Resolution Professional is in the process of reviewing the resolution plans according to the conditions of the Insolvency and Bankruptcy Code, 2016, and Regulations framed thereunder.

Housing Development and Infrastructure Ltd (HDIL) is under Corporate Insolvency Resolution Process (CIRP) according to the requirements of the Insolvency and Bankruptcy Code, 2016. Its affairs, business and assets are being managed by the Resolution Professional Abhay N Manudhane, who was appointed by National Company Law Tribunal (NCLT), Mumbai, via an order dated August 20, 2019.

The Mumbai bench of NCLT had ordered to initiate insolvency proceedings against HDIL after permitting the plea filed by Bank of India, claiming default of a loan of Rs 522 crore by the realty firm.

Image Source

Also read: Suraksha Group to acquire Jaypee Infratech through insolvency

On Friday. Crisis-hit realty company Housing Development and Infrastructure Limited (HDIL), which is facing insolvency proceedings, told the media that its resolution professional obtained 16 bids from nine applicants to acquire the firm. In a regulatory filing, HDIL notified that the Resolution Professional of the company has obtained sixteen resolution plans from nine Prospective Resolution Applicants (PRAs). But, one of the applicants has presented the proposal without the requisite earnest money deposit as needed. The Resolution Professional is in the process of reviewing the resolution plans according to the conditions of the Insolvency and Bankruptcy Code, 2016, and Regulations framed thereunder. Housing Development and Infrastructure Ltd (HDIL) is under Corporate Insolvency Resolution Process (CIRP) according to the requirements of the Insolvency and Bankruptcy Code, 2016. Its affairs, business and assets are being managed by the Resolution Professional Abhay N Manudhane, who was appointed by National Company Law Tribunal (NCLT), Mumbai, via an order dated August 20, 2019. The Mumbai bench of NCLT had ordered to initiate insolvency proceedings against HDIL after permitting the plea filed by Bank of India, claiming default of a loan of Rs 522 crore by the realty firm. Image Source Also read: Suraksha Group to acquire Jaypee Infratech through insolvency

Next Story
Real Estate

Heena Lalwani Buys Rs 1.13 Billion Juhu Apartment

Heena Lalwani, promoter of Aatman Innovations Private Limited, has purchased a luxury apartment worth Rs 1.13 billion in Mumbai’s upscale Juhu locality, according to property registration documents accessed by Zapkey.com.The 9,862 sq ft apartment, located on the 10th floor of Lodha Developers’ Avalon Tower, was acquired at Rs 115,000 per sq ft and comes with five car parking spaces. The deal, registered on 18 August 2025, also included the payment of Rs 68 million in stamp duty and a Rs 30,000 registration fee.Lodha Developers did not respond to queries regarding the transaction, while the..

Next Story
Real Estate

Godrej Buys KPHB Land for Rs 7 Billion in E-Auction

An acre of prime land in Kukatpally Housing Board (KPHB), Hyderabad, was auctioned for Rs 7 billion, with the Telangana Housing Board generating Rs 5.47 billion from the sale of 7.8 acres through e-auction on 20 August 2025.The auction notification was issued last month, attracting bids from Godrej Properties, Aurobindo Realty, Prestige Estates, and Ashoka Builders, according to Board vice-chairman V.P. Gautham. With an offset price of Rs 4 billion per acre, the three-hour auction saw 46 bid increases, before Godrej Properties acquired the land.Revenue generated from the auction will be utilis..

Next Story
Real Estate

HMDA to Auction 93 Prime Plots in September

The Hyderabad Metropolitan Development Authority (HMDA) is preparing to conduct a three-day auction of prime open plots across Hyderabad, Rangareddy, and Medchal-Malkajgiri districts this September.According to official reports, the e-auction will take place on 17, 18, and 19 September, offering 93 plots. Of these, 70 are located in the Bachupally HMDA layout, with the remainder spread across Turkayamjal, Kokapet, Poppalguda, Chandanagar, Bairagiguda, Gandi Maisamma, Suraram, Medipally, and Bachupally village.The highest upset price has been fixed at Rs 175,000 per square yard for a land parce..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?